The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Alrick Construction Pvt Ltd
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Alrick Construction Private Limited (a non-promoter entity) has disclosed an acquisition of 20,00,000 equity shares in Adishakti Loha and Ispat Ltd (now renamed Afloat Enterprises Limited), representing 15.93% of the company's voting share capital. The acquisition was done on August 4, 2025 through the conversion of 20,00,000 warrants into equity shares. Prior to this, Alrick Construction held 0% voting rights (only warrants which carried no voting rights). The equity share capital of the company expanded from 45,58,000 shares to 1,25,58,000 shares following this conversion. The shares will rank pari-passu with existing equity shares.
This is a significant non-promoter acquisition that has taken Alrick Construction's stake to 15.93%, placing it within 10 percentage points of the 25% SAST open-offer trigger threshold. Shareholders should note the expanded share base (nearly 2.75x dilution) and the entry of a sizeable new non-promoter shareholder, which may influence future control dynamics.